Iowa Admin. Code r. 781-9.42 - Holder voluntary disclosure of unreported property
(1) The division may offer a holder Voluntary
Compliance Self-Audit (VCSA) program in order to facilitate compliance by
holders that have never reported unclaimed property or have substantially
underreported unclaimed property.
(2) The operation of the VCSA program process
will be conducted as follows. The division will promulgate terms, conditions
and forms for the VCSA program. A holder shall provide all required information
in the format determined by the division in order to participate in the VCSA
program. The division will have the discretion to approve or reject a VCSA
submission. An incomplete VCSA submission will result in disapproval of the
submission.
(3) The division will
not impose any interest or penalties for property reported under an approved
VCSA submission.
This rule is intended to implement Iowa Code chapter 556.
Notes
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